Pharma Giants Charge Governments 5 Times Real Price Of COVID Vaccines - Alliance
Mohammad Ali (@ChaudhryMAli88) Published July 30, 2021 | 12:10 AM
MOSCOW (UrduPoint News / Sputnik - 30th July, 2021) The total cost of COVID-19 vaccination could have been five times less if the major pharmaceutical companies weren't taking advantage of their monopoly on COVID-19 vaccines, according to the People's Vaccine Alliance.
"The cost of vaccinating the world against COVID-19 could be at least five times cheaper if pharmaceutical companies weren't profiteering from their monopolies on COVID-19 vaccines. New analysis by the Alliance shows that the firms Pfizer/BioNTech and Moderna are charging governments as much as $41 billion above the estimated cost of production," the alliance said in a release.
Although the infection and death rates due to COVID-19 implications are rapidly growing in developing countries, the pharma giants have sold more than 90% of their COVID-19 vaccines to rich countries which overpay them as far as 24 times the actual price, the alliance went on.
Developing countries have low vaccination rates and the situation is getting worse, as the infections especially from COVID-19 Delta variant are rising. The inequalities become more obvious when statistics come into perspective. In the EU at the moment 57.8% of the population is vaccinated with at least one dose of the vaccine, according to European Center for Disease Prevention and Control. In the US this percentage is 56.8%, according to the Centers for Disease Control and Prevention. At the same time in very big developing countries with hundreds of millions of population those percentages are in single digits.
Recent Stories
PSX gains 771 points
PITB HR Wing organizes Eid Milan celebration for children at PITB Day Care Cente ..
Cabinet briefed on progress of PIA privatization
Meeting held to streamline trade between Pak-Afghan , Central Asian Republics
SONY x TECNO - is this for real?
Progress of Aaghosh, Bunyad, Khud Mukhtar programs discussed
PTI to stage nationwide protests against alleged electoral frauds
Senate continues discussion on Presidential address to Joint Sitting of Parliame ..
Masood Khan calls for Pak-US cooperation for regional peace
Interior Minister starts Margalla Trail Patrol for security
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 26 April 2024
Today Gold Rate in Pakistan 26 April 2024
More Stories From World
-
UK man charged with 'Russia-backed arson plot' on Ukraine-linked targets
9 minutes ago -
EU toughens safety rules for online retailer Shein
9 minutes ago -
French barber still trimming at 90
9 minutes ago -
Barrett inspires Crusaders' return to form against Rebels
18 minutes ago -
Philippine settlement submerged by dam reappears due to drought
19 minutes ago -
Blinken says US campus protests part of 'democracy'
38 minutes ago
-
Vietnam National Assembly head resigns amid graft purge
58 minutes ago -
Team from Gaza mediator Egypt heads to Israel: source
1 hour ago -
Xi tells Blinken US, China should be 'partners, not rivals'
1 hour ago -
Ukraine agriculture minister freed on bail in corruption case
2 hours ago -
Vietnam National Assembly head resigns amid graft purge
2 hours ago -
Calls for mosque demolition weigh on India's Muslim voters
2 hours ago